

<br>
<h2>
    <u>Your task:</u>
</h2>
<div style="padding-left: 30px;">
    <br>
    In this study, you will be asked <b>to make an investment decision.</b>
        <ul>
            <li>
                You will <b>receive a budget of 100 points</b>, each of which is worth $0.10. At the end of the study, we will convert your points earned into Dollars.
            </li>
            <li>
                You need to split these 100 points between two accounts: a <b>riskless savings account</b> and a <b>risky (but potentially profitable) investment fund.</b>
            </li>
            <li>
                <u>Savings account:</u> Whatever amount you put in this account you get back for sure.  
            </li>
            <li>
                <u>Investment fund:</u> Whatever amount you put in the investment fund, the fund invests <b>in two risky stocks, called A and B. </b>
            
                <ul>
                    <li>
                        The fund invests 99% of your investment into Stock A and 1% into Stock B <br>&#x2192; Example: If you put 70 points into the investment fund, then the fund would invest 69.3 points into Stock A and 0.7 points into Stock B.
                    </li>
                    <li>
                        Stock A and B work in similar ways: with some probability, <b>they double the investment amount,</b> and with some other probability they lose the investment. The probability with which an investment doubles or is lost varies across the two stocks:
                    <ul>
                        <li>
                            <u>Stock A:</u> <b>Always doubles your investment with probability 80% and loses your investment with probability 20%.</b>
                        </li>
                        <li>
                            <u>Stock B:</u> <b>Doubles vs. loses your investment with a probability that varies across rounds in this study.</b>
                        </li>
                    </ul>
                    </li>
                    <li>
                        <u>This means:</u> The fund invests 99% of your investment into Stock A, and Stock A always has a 80% chance of doubling and a 20% chance of losing the investment. The fund invests 1% of your investment into Stock B, for which the probabilities of doubling vs. losing the investment vary across rounds.                    
                    </li>
                </ul>
            </li>
                <li>
                    You can also invest fractions of points, such as 6.7 points.
                </li>
                <li>
                    In total, you will complete 11 rounds of this task. Across these rounds, <b>Stock B’s probability of doubling vs. losing the amount invested varies.</b> These rounds are completely independent from one another. If one of the rounds of this task is selected to determine your bonus, only your decision in this one round will determine your bonus.
                </li>
        </ul>
        

</div>
    
<br>
<hr>
<br>
<h2>
        <u>Your bonus payment:</u>
</h2>
<div style="padding-left: 30px;">
    <br>
    Your decisions  may affect your bonus payment. If you are selected for payment, the computer will determine the outcome of your investment according to the probabilities we specify, and we will pay you the resulting amount.
</div>
<div style="width: 100%; text-align: center; margin-top: 10px" class="instr_button_div">
    <button id="button_instr" class="revealbutton instr_button"><span style="color:#fff;">Next</span></button>
</div>
<div class="hidding_div" style="display: none;">
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<hr>
 <br>
 <h2>
    <u>Example:</u>
</h2>
<br>
<center>
    <img class="example_image" style="margin: 5px; border: 2px solid lightgray; width: 75%;" alt="Example image of the decision screen (input later)" src="https://github.com/sebre97/Attenuation/blob/main/Instructions/figures/instr_figures/DIL.png?raw=true">
</center>
<div style="padding-left: 30px;">
    <br>
    <ul>
        <li>
            In this example, like in all rounds, Stock A has a 80% chance of doubling and a 20% chance of losing the amount invested.        
        </li> 
        <li>
            Stock B, on the other hand, has a 60% chance of doubling and a 40% chance of losing the amount invested.        
        </li>
        <li>
            You then need to decide how to allocate your 100 points across the savings account and the investment fund.
        </li>

    </ul>
</div>
<br>
<hr>
<br>
<h2>
   <u>Your certainty:</u>
</h2>
<div style="padding-left: 30px;">
   <br>
   In each round, we will ask you two questions:
    <br>
   <ul>
       <li>
        How you would like to allocate your 100 points between the savings account and the investment fund.    </li>
       <li>
        We will ask you <b>how certain</b> you are about your decision. Specifically, we are interested in how likely you think it is (in percentage terms) that the decision you made is actually your best decision, given your personal preferences and the available information.
    </li>
   </ul>
</div>
</div>